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AML MONITORING & COMPLIANCE OFFICER

Company Letshego Holdings Limited
Reference # AML&CO
Published 18/02/2021
Contract Type Permanent
Salary Market Related
Location Khomas Region, Khomas Region, Namibia
Introduction
The AML Monitoring Officer is responsible to ensure efficient monitoring of AML activity within Letshego Group Namibia.
Job Functions Compliance & Regulatory Affairs
Industries Banking / Finance & Investment
Specification
Key Accountabilities:
1. Understand the process for payments and related monitoring requirements in accordance with applicable legislation.
2. Review and assess alerts for money laundering risk and liaise with business areas as necessary to investigate alerts.
3. Contribute to suggestions to enhance systems, methodologies and process simplification.
4. Ensure management is made aware of all pressing issues in a timely manner.
5. Maintaining an appropriate audit trail and documentation in all instances, to evidence/support the review and resolution of each payment alert.
6. Investigate, assess and close of alerts for potential money laundering risks in LBN.
7. Ensure efficient identification and monitoring of suspicious activities and transactions.
8. Ensure timely, efficient reporting of suspicious transactions to AML Compliance Officer and the Financial Intelligence Centre at Bank of Namibia.
9. Daily assessment of AML reports for potential suspicious activity.
10. Maintain a current understanding of money laundering and terrorist financing issues, including policies, procedures, regulations, industry best practice, criminal typologies and developing trends.
11. Assist in identifying systemic procedural weaknesses and additional training requirements for the Bank or the Micro Financial Services.
12. Provide direction and guidance to employees on appropriate remediation action for high risk accounts.
13. Timely execution of instructions received from AML Compliance Officer and/or the Financial Intelligence Centre at the Bank of Namibia and/or the Namibian Police.
14. Investigate, review and resolve AML related and economic sanction related alerts.
15. Ensure proper investigation of suspicious transactions or money laundering alerts.
16. Assist with AML Compliance Training especially on identification and reporting of suspicious transactions.
17. Prepare reports on the progress and status of money laundering controls for Letshego Group.
18. Obtain documentary proof of suspicious transactions and ensure effective record keeping of suspicious transaction identified and reported to the FIC at the Bank of Namibia in line with the requirements of the Financial Intelligence Act.
19. Facilitate and monitor compliance with AML regulatory requirements by LBN and LMFSN where needed.
20. Actively assist in the roll out of the compliance monitoring plans and perform compliance monitoring functions.
21. Performing the due diligence on new Clients, requesting the KYC information, documentation, review and verification of received documentation and making an analytical risk assessment for new Clients.
22. Periodically evaluate existing Clients according to established policies and procedures.
23. Maintain an updated registers for High Risk clients (including PEP, PIP and Sanctioned) and conduct enhanced monitoring of such clients.
24. Develop and facilitate Group- wide training programmes for existing and new staff members.

Requirements
Knowledge and Experience Required of Job Holder:
1) Grade 12, (25 points) original certified
2) Diploma in Anti Money Laundering Compliance, LLB or equivalent qualification with at least 2 years’ experience in banking including experience in forensic audits.
3) Demonstrate understanding of regulation and financial services industry.
4) Good knowledge of products and services typically offered in banking.
5) Evidence of drive, curiosity, good judgement and good attention to detail.
6) Rigorous, well organised with a structured and logical approach
7) BE Driver’s License (without any endorsements)
8) Computer literate (Windows, Excel, Word, PowerPoint )
9) Effective Communication skills - verbally and written
10) Good understanding of AML Framework.
11) Experience with AML monitoring and screening is an advantage
12) Organizational and Report writing skills
Job Closing Date 05/03/2021
   
   
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Last Updated: 26 days ago [21.02.01.15]
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